Verdict called reassuring to businesses

The Supreme People's Court said on Wednesday that it hopes the verdict in the retrial of former business tycoon Gu Chujun will offer entrepreneurs the assurance that their property rights are protected by the law.

The SPC First Circuit Court commuted on Wednesday the original sentence of the 60-year-old from 10 years in prison to five and dropped two of the three charges.

The high-profile retrial comes amid what officials have called plans to correct errors in other mishandled cases related to property rights.